FP Clients lose over 28% of investments

CLIENTS  of  the scandal plagued Financial Pacific(FP)  brokerage will lose over 28% of their  investments  as cash recovered by the liquidator  leaves a $5.9 million shortfall.

A resolution signed by the liquidator Jose Angel Hidrogo, says  that $15.1 million; was recovered  of $21 million owed to clients, which means they will get back  71.93%  of their money .

Investors have priority over workers in the brokerage and outstanding accounts with the Social Security Fund (CSS) and the Treasury.
To recover part of their investment, FP  clients  must submit claims at the offices of the brokerage. Otherwise, the funds will be transferred to an account of the National Bank of Panama. The last day for claiming is January 14.

FP was put  in compulsory liquidation in August 2014.